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this post was submitted on 07 Oct 2023
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This is the best summary I could come up with:
LONDON, Oct 3 (Reuters) - HMD Global, which makes Nokia-branded phones, has become the first major smartphone company to manufacture devices in Europe with its first made-in-Hungary 5G model, aimed at data security-conscious customers, now available for purchase.
"We are thrilled to be manufacturing the Nokia XR21, our signature rugged 5G smartphone, in Europe," HMD Global co-founder, chairman and CEO Jean-Francois Baril said on Tuesday.
Before HMD opened its Hungarian operations, Europe had no large-scale smartphone manufacturing as major companies like Apple and Samsung make their phones in Asia to keep costs down.
However, concerns over national security have come to the fore in recent years, prompting the U.S. to place technology sanctions on Huawei's mobile business, while China expanded curbs on the use of iPhones by state employees.
HMD signed an exclusive 10-year licensing agreement with Nokia Oyj (NOKIA.HE), once the world's largest phone maker, in 2016 to make Nokia-branded smartphones and tablets.
A limited edition of 30 units from the European production line in frosted platinum will be available for purchase from the company's website from 699 euros or 599 pounds, it said.
The original article contains 318 words, the summary contains 185 words. Saved 42%. I'm a bot and I'm open source!